In a statement, CEO Michael P. Glimcher said he was pleased with the stability of the core mall portfolio, which saw its occupancy rate improve to 92 percent, and with the company's progress in addressing liquidity and balance sheet concerns. However, the company lowered its guidance for 2009 to a net loss per diluted share of 8 to 15 cents. The reason was to reflect additional shares issued in a recent secondary offering, Glimcher said.